International Money Express (NASDAQ:IMXI) Posts Quarterly Earnings Results

International Money Express (NASDAQ:IMXI) issued its earnings results on Friday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13), FiscalAI reports. The firm had revenue of $147.41 million during the quarter, compared to analysts’ expectations of $162.95 million. International Money Express had a return on equity of 35.45% and a net margin of 6.26%.

International Money Express Stock Up 0.1%

Shares of IMXI traded up $0.02 during trading hours on Friday, hitting $15.79. The company had a trading volume of 611,937 shares, compared to its average volume of 296,476. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $469.26 million, a PE ratio of 12.34 and a beta of 0.86. International Money Express has a one year low of $8.58 and a one year high of $15.81. The company’s fifty day moving average price is $15.54 and its two-hundred day moving average price is $15.06.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of International Money Express from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.33.

Institutional Trading of International Money Express

Hedge funds have recently modified their holdings of the company. Creative Planning bought a new stake in shares of International Money Express in the 2nd quarter valued at about $272,000. Norges Bank purchased a new stake in International Money Express during the second quarter valued at approximately $1,124,000. Quantbot Technologies LP boosted its stake in International Money Express by 35.5% in the second quarter. Quantbot Technologies LP now owns 32,423 shares of the company’s stock valued at $327,000 after acquiring an additional 8,487 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in International Money Express by 2.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 287,744 shares of the company’s stock valued at $2,903,000 after acquiring an additional 7,256 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in International Money Express by 2.1% in the second quarter. First Trust Advisors LP now owns 93,410 shares of the company’s stock worth $943,000 after purchasing an additional 1,881 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

About International Money Express

International Money Express, Inc (NASDAQ: IMXI) is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.